Despite socialist scepticism, Cuba shows interest in carbon trading

(Climate Home News, 30 Sep 2020) Cuba has suggested it wants to get paid to reduce emissions, if a controversial global carbon credit scheme is set up.

In an updated climate plan submitted to the UN this month, Cuba says it “intends to use cooperative approaches that involve the use of mitigation results of international transfer” under Article 6 of the Paris Agreement.

An international carbon market to put Article 6 into practice is still under negotiation. It would allow countries to sell any over-achievement of their emissions reductions targets, for other countries or corporations to count towards their carbon-cutting commitments.

This concept has long been controversial, particularly with left-wing governments allied to Cuba like Venezuela and Bolivia. They prefer “non-market measures”.

Some green campaigners argue carbon trading is a distraction from reducing emissions and could encourage countries to set low reduction targets in order to sell more credits.

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Climate Home News, 30 Sep 2020: Despite socialist scepticism, Cuba shows interest in carbon trading